Health Insurance Industry

Health insurance is a type of insurance that covers the whole or a part of the risk of a person incurring medical expenses. Because risk is shared among many individuals, an insurer can estimate the overall cost of a pool of policyholders and develop a routine financing structure, such as a monthly premium, to fund the health care benefits specified in the insurance agreement. The benefits themselves are administered by a mix of governmental agencies, private businesses and nonprofit organizations, and there is no single uniform system worldwide for who pays for coverage, who provides care, or where a covered patient may go. This description is adapted from Wikipedia contributors under CC BY-SA 4.0; changes were made. https://creativecommons.org/licenses/by-sa/4.0/